Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1887-10-26
BANK COMMISSIONERS.
They Report the Banking Institutions OF
the State Sound.

the State Sound.
The ninth annual report of the State
Board of Bank Commissioners has just
been issued from the State Printing ONCE
1t states that there are now lightweight
commercial banks and twenty-four savings
banks under the charge of this Commits
sion, total of 112, which shows an increase
of sixteen since the closing of their last
annual report.
The following shows the financial status
| Of twenty-three acting savings banks Janu-
airy l, 1887:
Number OF depositors. 90. 99gg
Amount due ,l9o, 4e9 %
Average amount due each depos- -, ~
~ COS 10
Net earnings 's9 5e
Dividends paid depositors 2,Zyi'43i 20
Capital paid in coin............. 5,y5I ~ ~
Dividends paid stockholders.-........ oi5,'o %
The Directors conclude their report by
giving the following advice:
4 time has come in California, it seems
to US, when it behooyes the managers and
Directors of our banks to be on their guard
lest, in the excitement of coming events,
they forget the severe lessons OF the past,
and again loan out money on flctluouS val
ues; which would surely result as it did
eight years ago in many instances-in con-
verting their institutions into real estate
agencies.
4 sudden and extraordinary tidal wave
of apparent prosperity seems TO be steadily
advancing upon our whole State. Two
years ago il was just perceptibly felt in the
southern counties, and it has continued to
flow on with undated volume until it has
now made every property holder IN that
section seem a rich man.
The population of some Of our southern
counties has more than doubled within the
past year. The assessed value OF taxable
property in those counties has advanced
within the same period, until in the county
of Los Angeles alone it reaches the enor-
nous figure of nearly $93,000,0O0, or about
one-third of the assessment of the city and
county OF San Francisco. This is an in
crease in that county of much more than
double in one year. Nine new banks have
been opened for business within the last
twelve months in the three counties of Los
Angeles, San Bernardino and San Diego.
The increase of deposits in the banks To-
Gated in those counties is wonderful and to
be counted by millions only.
Before this wave recedes it bids fair to
press On north, until it is felt in every
county to the Oregon line.
Let no one however, imagine that the
tlfne is NOT 10 come Wnen TINS sudden ana
wonderful wave will recede. If there is
any truth in the records of events in the
past, that time viii surely come and al
though it will undoubtedly leave Califor.
MIA far in advance of where il found her,
in prosperity and resources developed, yet
as it recedes it will leave, high and dry, as
total wreck, many and many we'll
planned speculation that once filled its pro-
jectors with well-grounded hopes of sue
cessful outcome.
This state of things we deem worthy of
serious reflection by the bankers of our
State, but particularly so by the officers and
Directors of the banking institutions Just
newly organized for business for with
them the wisdom gathered from experience
is yet to come, and the utmost vigilance is
necessary, or it may cost them too much
or come too late